Macau GGR could be down 80% from pre-pandemic levels in September
If China increases travel restrictions, it could be another band month for GGR.
Macau.- Analysts at Sanford C. Bernstein Ltd have predicted that further travel restrictions in China could cause, Macau’s GGR to come in at 80 per cent under pre-pandemic levels in September. Daily GGR between September 13 to 18 was MOP75mm, down 20 per cent when compared to the previous week, when the city recorded an average daily rate of MOP94mm.
According to analysts, the near-term GGR recovery will be difficult as the Chinese government continues to impose strict travel policies on long-distance travel due to ongoing outbreaks of Covid-19. Bernstein noted that while daily cases have declined overall, Guizhou has seen a recent uptick and other regions continue to have small outbreaks of Covid-19.
Macau has reopened its borders to 41 countries, but mainland China remains the main source of tourism for Macau as it is the only place that has a largely quarantine-free travel arrangement with the city,
Between September 9 and 15 inclusive, the Macao Government Tourism Office (MGTO) reported 121,657 visitors. The figure was up 6.6 per cent when compared to the previous week. On September 16, the city recorded 23,362 visitors, the highest since the most recent local outbreak of Covid-19 that began on June 18.
